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There are tons of articles out there confusing passive income with residual income. However, in the financial world, residual income has an entirely different meaning. Also called disposable income, residual income isnt really a sort of income, its a calculation that accountants work to determine what your income is after paying all expenses and debts.

If youre reading this guide, then youre likely interested in passive incomeand the way to earn it. There are numerous ways to earn passive income, including from:

Stock returns: Dividends you get paid from any shares you own, which earn you money long after their purchase.

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Investment properties: Rent you receive from a property propertyresidential or business. Yes, the property needs to be maintained, but the earnings still stream in each month.

Book sales: Royalties an author receives for writing a book. Generally, they have paid a percentage of the retail or net price of every publication soldin perpetuity.

In all these cases, your one-time investment consistently offers you an income at the same time you sit back and collect on it. What could be better than that!

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In the entrepreneurial world, another popular form of passive income is click-to-purchase content, which includes products such as e-books, how-to guides, or online courses. Essentially, the entrepreneur sells his/her expertise through these pre-prepared online productsindividuals buy the e-book or online training to gain access to the specialists knowledge.

Since the entrepreneur has already prepared the content, they all need to do is watch the money roll in (obviously, only after theyve gained a following and promoted the hell out of these )!

In the digital age, knowledge is powerand money. Selling your knowledge through online merchandise is big business. Why not tap into it

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Of course, the selling of manufactured products or merchandise is an age-old source of income, but is it passive income It could be, depending on the business model. Some of the most common sources of passive income via product sales are:

Item Distribution: Companies that enable individuals to become product vendors and earn a return on their customers purchases are another source of passive income. Like any other sort of passive income, if you invest up-front (by recruiting loyal clients ), the long-term benefits can be enormous!

Affiliate Programs: As an affiliate, you promote a companys products or services on your website, and you receive a percentage of their selling when someone clicks from your site to purchase it. If your website gets lots of traffic, then you can earn a pretty penny from affiliate links!

That is exactly what dreams are made of. Youre making money even when you arent doing anything. This means that even if youre sick, traveling, or dont feel like working, the money youre your passive income source(s) continues to roll in.

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The thing about earning money from a site web corporate occupation would be, no matter how hard you work, no matter how fantastic you're at your job, no matter how much additional time you log, there'll always be a limitation to your incomethats the term salary cap exists.

Unlike your company salary, passive income has no limitations. Want to earn 7 figures Then start investing!

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You can work your butt off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them take a lot of work.

Passive income is money you earn from a product or an investment where you dont have to do any more work once you set this up. That means consistent cash flow each month whether youre working or not.

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Thats the only real way to financial freedom. Passive income is the only way you will ever be free of worrying about money and the only way that you will ever reach financial independence.

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Im going to share my seven favorite passive income resources, income flows I use to make money every month. Now Im not going to sugar coat this, a few of these are going to take work but will mean thousands a month you can count on.

If you want more excellent movies on making money and making your money work for you, dont forget to register to the YouTube channel. Its free and were growing a fantastic community. Register and Join the Community.

Im going to start with the simple passive income thoughts, the ones which you can begin making money on instantly and will operate through into the ones youll create the most money on as we go through the list so make sure you stick around to catch those last few passive income plans.

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